Cash Savings over the short term

For savings over the medium to long term (possibly 3 years+ but certainly 5 years+) we would always look to provide a well balanced and diverse portfolio of investments to meet client needs for growth or to provide income via withdrawals.

In the current financial situation, with the background of ongoing wars, higher borrowing rates and the ongoing fallout from the Truss-Kwarteng budget there is an argument to be made for holding a higher proportion of short term savings in cash. Again by short term we look at up to 3 years but probably no more than 5 years).

Below you will see some recent examples of available rates (these rates come and go very quickly so please do not assume that they will all still be available):

Instant*

1 Year*

3 Year*

*Correct at October 20^th, 2023

If you believe that you are likely to spend monies over the short term and want to take volatility out of the equation then moving some funds into cash may be an option depending on what your existing holdings are in.

If you would like to consider the opportunities available to you then please get in touch with your adviser who will be happy to check on the best rates and discuss your options.

Andy Brooks

Managing Director

Brooks Wealth Management